It cannot be denied that the 21st century has seen the entrance of newer players into the global superleague. Countries which were hitherto semi industrialized or semi peripheral as concerns the international economic system have been transformed into economic powerhouses almost overnight. Countries in the Far East, such as Malaysia, Singapore and South Korea make up this list. Of particular interest, however is the People's Republic of China. In Imperialism , Lenin observes that weak and underdeveloped economies can become developed and industrialized - to the point of challenging the 'traditional' developed economies - at a very fast pace, as in the case of Germany in the second half of the 19th century. Throughout the 20th century, China's economy was nowhere near those of the powerful Western countries. The situation is completely different now. China has made strides in industry and agriculture, and its economy is only second to that of the United States. In fact...
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